Analytical Surveys plans all-stock merger with Ecowood

SimonKennedy

LONDON (MarketWatch) -- Oil and gas services group Analytical Surveys
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said it has agreed a letter of intent to execute an all-stock merger with Ecowood Inc. to create a diversified natural resources group. Ecowood salvages hardwood logs lost on the way to sawmills in the Amazon. Analytical surveys said Ecowood will contribute assets including property and salvaging rights and added the new company will have access to more than $200 million for future investment and working capital. The firms expect to execute a definitive merger agreement by March 16 and expect the transaction to be completed in the second quarter of 2007.

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